Avoid the hassle and enjoy collections worksheet functionality for debt management. The module enables users to monitor delinquent accounts, to take actions, and to log them in the system (e.g. call the customer, log promise to pay, follow-up call if a promise is broken). You can assign dedicated officers to work with specific accounts and get a “My Collections” view with a single click.
Debt management
Even more great features. Check them out:
What can you do with SOFT4Factoring
Manage financial transactions and types of debtor finance, quickly and easily
General ledger integration
The Solution has full integration with a Factor financial accounting system and General Ledger module.
Automated document management
Create, store and distribute documents throughout the factoring process. Produce factoring documents automatically, configure document templates and map to data in the System.
Debt management
Monitor delinquent accounts, take actions, and log them in the system (e.g. call the customer, log promise to pay, follow-up call if a promise is broken).
Multicurrency support
Finance your client invoices in various currencies. Calculate the exchange rate associated with the date on the transaction for each conversion of a currency amount to a local amount.
Master Factoring agreements
Manage Factoring Agreements throughout the whole lifecycle: attach factoring product, create, and approve factoring credit limits and agreements; upload legal documents to a factoring agreement.
Automated calculation
Calculate interest on the debt balance and recalculate interest in case of partial early repayment of debt. Benefit from automation function for calculating overdue penalties, as well as allocated, outstanding, and released reserve amounts.
Data tracking and reporting
Easily drill down to G/L transactions for every calculated and posted figure in the system. The built-in platform features enable to export every single internal report and many views to Excel.
Open invoice management
Overview all open invoices in a single page. Invoices are run through a validation process to ensure they meet all acceptance and contract criteria for the client.
No stress and inspiring results. Start achieving results today!
Industries
Select your industry to find out how SOFT4Factoring can simplify your business
Recourse factoring
Manage your recourse factoring business – agreements where a company sells its current invoices to you with the understanding that the company will buy them back if they go uncollected. Save your team’s time with automated calculation, accrual and invoicing of interest and commission, do easy tracking and reporting, overview all valid Factoring Agreements at a single click.
Non-recourse factoring
Manage your non-recourse factoring business, allowing a company to sell its invoices to you without the obligation of absorbing any unpaid invoices. Save your team’s time with automated calculation, enjoy collections worksheet functionality for debt management, overview all open Invoices in a single page.
Invoice factoring software
Run your factoring business efficiently with factoring software that allows you to minimize manual work with automated calculation, and to accrue and invoice interest and commission. Achieve efficiency with integrated financial accounting, document management and CRM features. Meet investors’ expectations by managing your business with a world-class ERP system, built on Microsoft Dynamics 365 Business Central.
Factor software
Benefit from automation that provides an easier and faster invoicing process, saving up to four hours per day. Manage your business efficiently with functions such as document management, CRM and contact-address details module. Easily gain business insights and take informed business decisions with data tracking and reporting.
Talk to our expert about your factoring software needs
Case study
After implementing SOFT4Factoring & SOFT4Leasing, Tirana Factoring and Lease (TFL)
Saves 4 hours per day
with interest calculation and automated billing
Improved
their operations‘ monitoring process
Interest calculations
are done with just one click
Manage both factoring&leasing in one software
and do not experience any more data loss or inconsistencies
The new software has facilitated many usable works processes we do every day! The team was excited to have Microsoft technology-based solution which had both leasing and factoring in one platform.
Executive Director at Tirana Factoring and Lease, Albania
